Auctus sells entitec in trade sale

IT.UV, the newly founded subsidiary of trade unions Verwaltungs-Berufsgenossenschaft (VBG) and Berufsgenossenschaft für Gesundheitsdienst und Wohlfahrtspflege (BGW), wholly acquired entitec.

The private equity house reaped an IRR of 30% upon exiting the firm, which Auctus originally acquired in 2007 in an owner buyout.

Company
Hamburg-based entitec provides IT services to trade unions and public pension scheme providers.

The firm employs more than 55 staff and reported its latest turnover figure at more than €10m.

People
Ingo Krocke is managing director at Auctus and led the deal for the firm. Frank Fuchs is CEO of entitec. Thorsten M Döcke is a member of VBG's managing board. Arthur Montada is deputy managing director of BGW.

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• Topics
• DACH
• Technology
• Exits
• Germany
• AUCTUS Management GmbH & Co KG
• Trade sale